What Questions May Be Addressed in a New York Postnuptial Agreement?

By The Law Offices of Paul A. Boronow, PC on March 4, 2015

Many New York couples considering marriage enter into a prenuptial agreement to ensure that both spouses are clear on financial and other issues before the marriage begins. If a couple chooses not to create a prenuptial agreement, they still have the option to create a postnuptial agreement after they are wed.

Couples who struggle with legal or financial issues after marriage should consider using a postnuptial agreement to clarify their needs and set ground rules. Some of the questions addressed in many postnuptial agreements include:

How is property held by each spouse? What changes, if any, should be made?

How is debt held by the spouses? How will it be repaid? What are the priorities?

What does each spouse earn? How much does each spouse spend and save? Should there be rules about spending and saving, and what should they be?

If one spouse owns a business, to what extent is the other spouse involved now? In the future? If the couple divorces, what should happen to the business?

What are the couple’s financial goals for the future: to pay for a child’s education, purchase a particular asset, save for retirement? What is the plan for achieving these goals?

What happens if one spouse becomes seriously ill or disabled? Does the couple have long-term health care insurance, disability insurance, or other options? Have you executed health care proxy or power of attorney?

What are the couple’s estate plans? What happens if one or both spouses die?

The dedicated Long Island family law attorneys at the Law Offices of Paul A. Boronow, P.C. have helped many families through issues including pre- and postnuptial agreements, paternity, and divorce. Contact us today to learn more.

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